SBI possesses Rs 345 crore NPAs of MP bodies
Bhopal: State Bank of India (SBI) is likely to ask the Madhya Pradesh government to pay over Rs 300 crore against bad loans, guaranteed non-performing assets (NPAs) and irregular accounts. Officials said only in four cases has the amount of Rs 391.43 crore been reduced to Rs 345 crore, after payments from the Madhya Pradesh State Electricity Board (MPSEB).

The cash-strapped state power board, MP Land Development Corporation, MP State Road Transport Corporation and few other organisations constitute more than 30 per cent of the total non-performing assets of SBI. There are five other private accounts that constitute Rs 200 crore. But despite SBI's repeated requests, the state government has shown no urgency to retire the debts.
Back to News Review index page  

Commonwealth Bank, DBS become new GTB suitors
Mumbai: Global Trust Bank (GTB) has started talks with Development Bank of Singapore (DBS) and Commonwealth Bank of Australia to sell a 49-per cent stake to them. The bank has put on hold talks with Newbridge Capital owing to differences of opinion on the proposed writing down of capital. The talks with Newbridge have been "put on hold" and not called off. Bank officials have also held talks with the Royal Bank of Scotland, says a report.

The GTB management and JM Morgan Stanley, its adviser on capital restructuring, held a meeting last week with the Singapore-based merchant banking arm of Deutsche Bank on placing its equity with the Development Bank of Singapore. "The merchant banker has proposed to bring in a strategic partner from Southeast Asia. A former CEO of a public sector bank, too, has been roped in by the Development Bank of Singapore for advising it on the deal," a source was quoted as saying.
Back to News Review index page